DALLAS, Dec. 19,
2024 /PRNewswire/ -- Ashford Hospitality Trust, Inc.
(NYSE: AHT) ("Ashford Trust" or the "Company") announced today that
it has successfully extended its mortgage loan secured by the
226-room Le Pavillon Hotel located in New Orleans, Louisiana. The loan had an
initial maturity date in December of 2024 and has two additional
one-year extension options, subject to the satisfaction of certain
conditions, with a final maturity date in December 2027. The loan has been extended with no
paydown and continues to have an outstanding balance of
$37.0 million.
"We are pleased to announce the extension of this loan,"
commented Stephen Zsigray, Ashford
Trust's President and Chief Executive Officer. "We are also excited
about the recent conversion of this hotel to Marriott's Tribute
Portfolio and expect performance to ramp up quickly post
conversion."
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing predominantly in upper upscale,
full-service hotels.
Forward-Looking Statements
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the federal
securities regulations. Forward-looking statements are generally
identifiable by use of forward-looking terminology such as "may,"
"will," "should," "potential," "intend," "expect," "anticipate,"
"estimate," "approximately," "believe," "could," "project,"
"predict," or other similar words or expressions. Additionally,
statements regarding the following subjects are forward-looking by
their nature: our business and investment strategy; anticipated or
expected purchases, sales or dispositions of assets; our projected
operating results; completion of any pending transactions; our plan
to pay off strategic financing; our ability to restructure existing
property-level indebtedness; our ability to secure additional
financing to enable us to operate our business; our understanding
of our competition; projected capital expenditures; and the impact
of technology on our operations and business.. Such forward-looking
statements are based on our beliefs, assumptions, and expectations
of our future performance taking into account all information
currently known to us. These beliefs, assumptions, and expectations
can change as a result of many potential events or factors, not all
of which are known to us. If a change occurs, our business,
financial condition, liquidity, results of operations, plans, and
other objectives may vary materially from those expressed in our
forward-looking statements. You should carefully consider this risk
when you make an investment decision concerning our securities.
These and other risk factors are more fully discussed in the
Company's filings with the SEC.
The forward-looking statements included in this press release
are only made as of the date of this press release. Investors
should not place undue reliance on these forward-looking
statements. We will not publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or circumstances, changes in expectations or
otherwise except to the extent required by law.
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SOURCE Ashford Hospitality Trust, Inc.